2012年-世界发展银行全球_Government_Support_to_Public_Private_Partnerships___2011_Highlights_3页_698kb

Summary of Government Support to Public Private Partnerships (2011 Highlights)

Core Content

The Private Participation in Infrastructure (PPI) Database provides an overview of government support to Public Private Partnerships (PPPs) in 2011. This update note highlights the methodology and data collected, focusing on the types of government support, revenue sources, and debt/equity ratios across various sectors and regions.

The database includes financial data such as government guarantees, debt-to-equity ratios, and types of funding sources. It also tracks government support to project revenues, including tax deductions and availability payments. The definition of PPPs excludes management contracts and divestitures.

Main Points

Definition of PPPs

• PPPs involve a long-term contract between the government and private sector.
• The private partner is responsible for building, managing, maintaining, operating, and controlling the infrastructure.
• In return, the private partner receives user fees, government transfers, or both.
• The government may provide in-kind or financial support, including subsidies, guarantees, shadow fees, and availability payments.
• PPPs can result in direct or contingent liabilities for the granting authority.

Regional Breakdown (2011)

• Africa (AFR): 13 PPPs, 2 in renewable energy. Most were user-contracted, with a few government-contracted.
• East Asia and Pacific (EAP): 15 PPPs, all in renewable energy. All were government-contracted and had PPA agreements.
• Europe and Central Asia (ECA): 23 PPPs, all in renewable energy. 21 had PPA agreements, 2 sold to the wholesale market.
• Latin America and the Caribbean (LAC): 53 PPPs out of 89 projects. 44 were user-contracted, 9 were government-contracted. Revenue sources included PPA/WPA payments, user fees, and tax incentives.
• Middle East and North Africa (MNA): No PPP projects in 2011.
• South Asia (SA): 74 PPPs, 34 in energy, 40 in transport. 21 were government-contracted, 23 were user-contracted. Revenue sources included user fees and PPA agreements.

India and Brazil Close-Up

• India: 65 PPP projects in 2011. 82% were user-contracted, 18% were government-contracted. All had a fixed concession term. Government support included annuity payments (18%) and combined support (2%). All projects were financed with debt from local public banks.
• Brazil: 44 PPP projects in 2011. 50% were user-contracted. All had a fixed concession term. 40 out of 44 projects received tax deductions. The Reidi program was the main support, offering tax cuts for capital equipment and construction materials (about 9.25% cost reduction) and accelerated depreciation for construction expenditures.

Key Information

Debt/Equity Ratios

• Of the 80 PPP projects with financing data:
  • 57% had a debt/equity ratio in the 70/30 range.
  • Next most common was 60/40.
  • 1% had more equity than debt.

Revenue Sources

• PPA/WPA payments from government off-takers accounted for 39% of PPPs.
• User fees were the second largest revenue source, found in 34% of PPPs.
• Mixed government support (revenue and tax deductions) was present in 23% of projects.
• Annuity payments were found in 1% of projects.
• Sales to the wholesale market were in 2% of projects, excluding the energy sector.

Additional Notes

• Merchant power plants were not categorized as PPPs and did not receive government support.
• The PPI Database includes a broader range of private participation in infrastructure beyond just government support.

Conclusion

The 2011 PPI Database highlights the growing role of PPPs in infrastructure development, particularly in renewable energy and transport sectors. Government support varied by region, with India and Brazil showing significant emphasis on financial and tax incentives. The methodology introduced in FY 12 aims to provide a more accurate and comprehensive understanding of how governments support PPPs financially and operationally.